Macroeconomic Forecast Barbados

August 2008 | Macroeconomic Forecasts

According to the most recent data released by the Barbados Statistical Service, consumer price inflation came in at a 18-month high of 7.5% y-o-y April. In line with many of its neighbours, the Caribbean island suffered at the hands of a record surge in global commodity prices in H108, pushing up energy, fuel and food costs for Barbadians. Commodity prices have started to retrace, and should continue to grind lower over the remainder of H208. However, local price pressures are unlikely to recede significantly, in our view. As such, we are sticking to our 5.8% end-2008 inflation forecast for now.

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